New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 25, 2014
05:31 EDTSQBGSequential Brands acquires Galaxy Brand for $100M cash, 13.75M shares
Sequential Brands announced that it has signed a definitive agreement to acquire Galaxy Brand Holdings for $100M in cash, 13.75M shares of common stock of the company, and certain performance based warrants. The transaction, which is expected to close by the end of 2014, is subject to customary closing conditions and regulatory approval. Sequential will acquire four consumer brands that include the fitness brand Avia, basketball brand AND1, outdoor brand Nevados, and home goods brand Linens 'N Things. On a combined basis post-closing, the company is projecting forward 12-month royalty revenues of $56M- $60M, $36M-$40M of adjusted EBITDA, and 32c-38c of earnings per share from the total brand portfolio of 12 brands. Sequential has obtained committed financing from Bank of America and GSO Capital Partners, an affiliate of Blackstone Group. The company will be replacing its existing debt facilities with new first lien and second lien debt facilities totaling approximately $180M. Upon completion of this transaction, the company's diluted share count will be approximately 40M. The transaction is expected to be immediately accretive.
News For SQBG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for SQBG

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use